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Tax revenues reached 100% of target from start of FY through April: ETA head - Daily News Egypt

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Tax revenues reached 100% of target from start of FY through April: ETA head

Some artists who receive millions of pounds do not pay all taxes 

Emad Samy, head of the Egyptian Tax Authority, said that tax revenues reached about EGP 415bn, scoring 100% of the target for that period.

He added that the authority’s databases were not being updated since 2005, but he embarked on that mission when he took office.

He explained that 75% of the files at the ETA were audited, noting that major funders of independent businesses have contributed EGP 400m in taxes in three months, compared to EGP 500m paid by them throughout the entire past year.

He said he was surprised when he assumed office and found that some artists, who receive millions of pounds, do not pay all their due taxes.

“It is unimaginable that some of the senior lawyers do not pay the full amount of the taxes due. One lawyer used to cursing people on TV only paid EGP 38,000 but gets paid millions,” Samy said.

He stressed that some lawyers register some cases in courts with the names of lawyers under training, forming a loophole for tax evasion. This, as well as other loopholes, are now being remedied by the ETA, Samy said.

Meanwhile, Samy submitted a request to the Minister of Finance to recruit 7,000 new 2016/2017 university graduates as auditors.

He pointed out that the ETA is currently automating VAT returns statements, noting that they received 80,000 electronic statements in the last fiscal year.

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